(This is an abridged version of a story that appears in the August issue of Marijuana Business Magazine.)
Whether it’s shopping for groceries or cannabis, everybody loves getting a good deal.
That’s why loyalty programs – whether they come from your local grocery store or your neighborhood marijuana dispensary – are an effective way to get customers into the shop and keep them coming back.
Many marijuana retailers offer loyalty programs in which their customers accumulate a certain number of points for each visit. After reaching a milestone, they can cash in those points for discounts on flower, concentrates, edibles or whatever else the store has to offer.
“People love getting discounts,” said Myles Kahn, chief executive of Renton, Washington-based Buddy’s Pot Shop. “There’s no doubt about the effectiveness of it.
“The person who’s buying a $60 gram of concentrate would like to get 25% off just as much as the person who’s scraping quarters together to buy a pre-roll.”
Successful loyalty programs are not the only way for marijuana businesses to ensure repeat business, however.
Company owners can also explore:
- Cross-promotions with non-cannabis retailers.
- In-store special events.
- Highlighting what sets their stores apart.
(Click here to read more.)